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Depasquale: state budget crisis to blame for school districts borrowing $431 million

10-Nov-2015

 With the state’s budget impasse entering its fourth month, Auditor General Eugene DePasquale said on Wednesday that the stalemate has now prompted an extra 10 school districts to borrow $85 million, bringing the total borrowed to date to $431 million. Interest and fees on the money borrowed to date could potentially reach $14 million, according to a release.

"At a minimum, this is a significant distraction for our schools, and at its worst, it's a down right emergency," Depasquale said. "These costs will almost double between now and Thanksgiving if there isn't a budget deal by then."

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